Ashby de la Zouch leasehold conveyancing Example Support Desk Enquiries
I have recently realised that I have Sixty One years unexpired on my flat in Ashby de la Zouch. I need to extend my lease but my landlord is missing. What options are available to me?
If you qualify, under the Leasehold Reform, Housing and Urban Development Act 1993 you can submit an application to the County Court for for permission to dispense with the service of the initial notice. This will enable the lease to be extended by the magistrate. You will be obliged to demonstrate that you or your lawyers have used your best endeavours to track down the freeholder. In some cases a specialist should be useful to carry out a search and prepare an expert document which can be accepted by the court as evidence that the freeholder is indeed missing. It is wise to seek advice from a solicitor both on investigating the landlord’s absence and the vesting order request to the County Court overseeing Ashby de la Zouch.
I am hoping to sign contracts shortly on a basement flat in Ashby de la Zouch. Conveyancing lawyers inform me that they report fully on Monday. What should I be looking out for?
Your report on title for your leasehold conveyancing in Ashby de la Zouch should include some of the following:
- You should be sent a copy of the lease
Back In 2001, I bought a leasehold flat in Ashby de la Zouch. Conveyancing and Britannia mortgage went though with no issue. I have received a letter from someone claiming to own the reversionary interest in the property. It included a demand for arrears of ground rent dating back to 1992. The conveyancing practitioner in Ashby de la Zouch who acted for me is not around.What should I do?
First make enquiries of HMLR to be sure that this person is in fact the new freeholder. It is not necessary to incur the fees of a Ashby de la Zouch conveyancing firm to do this as you can do this on the Land Registry website for less than a fiver. You should note that in any event, even if this is the rightful landlord, under the Limitation Act 1980 the limitation period for recovery of ground rent is six years.
I am employed by a reputable estate agency in Ashby de la Zouch where we have witnessed a number of flat sales derailed due to short leases. I have received contradictory information from local Ashby de la Zouch conveyancing firms. Could you confirm whether the vendor of a flat can instigate the lease extension process for the buyer?
As long as the seller has been the owner for at least 2 years it is possible, to serve a Section 42 notice to start the lease extension process and assign the benefit of the notice to the purchaser. This means that the buyer need not have to wait 2 years to extend their lease. Both sets of lawyers will agree to form of assignment. The assignment has to be done prior to, or simultaneously with completion of the disposal of the property.
Alternatively, it may be possible to agree the lease extension with the freeholder either before or after the sale. If you are informally negotiating there are no rules and so you cannot insist on the landlord agreeing to grant an extension or transferring the benefit of an agreement to the purchaser.
All being well we will complete the sale of our £425000 maisonette in Ashby de la Zouch next week. The managing agents has quoted £420 for Certificate of Compliance, building insurance schedule and 3 years service charge statements. Is it legal for a freeholder to charge exorbitant fees for a leasehold conveyance in Ashby de la Zouch?
Ashby de la Zouch conveyancing on leasehold apartments normally requires the purchaser’s lawyer sending questions for the landlord to address. Although the landlord is under no legal obligation to answer these enquiries most will be willing to do so. They are at liberty invoice a reasonable charge for answering enquiries or supplying documentation. There is no set fee. The average costs for the information that you are referring to is over three hundred pounds, in some cases it exceeds £800. The management information fee levied by the landlord must be accompanied by a synopsis of entitlements and obligations in respect of administration fees, otherwise the invoice is not strictly payable. Reality however dictates that one has no option but to pay whatever is requested of you if you want to complete the sale of your home.
I invested in buying a leasehold flat in Ashby de la Zouch, conveyancing was carried out 5 years ago. Can you please calculate a probable premium for a statutory lease extension? Equivalent properties in Ashby de la Zouch with over 90 years remaining are worth £249,000. The average or mid-range amount of ground rent is £50 levied per year. The lease finishes on 21st October 2084
You have 59 years unexpired the likely cost is going to be between £25,700 and £29,600 plus professional fees.
The figure that we have given is a general guide to costs for extending a lease, but we cannot give you the actual costs without more detailed investigations. You should not use this information in tribunal or court proceedings. There may be additional issues that need to be taken into account and clearly you want to be as accurate as possible in your negotiations. You should not take any other action placing reliance on this information without first getting professional advice.
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